Ubiquiti Networks (UBNT) Raised to Buy at ValuEngine
ValuEngine upgraded shares of Ubiquiti Networks (NASDAQ:UBNT) from a hold rating to a buy rating in a research note issued to investors on Tuesday.
Several other equities analysts have also commented on the company. BMO Capital Markets upped their price target on Ubiquiti Networks from $60.00 to $63.00 and gave the company a market perform rating in a research note on Friday, February 9th. Deutsche Bank upped their price target on Ubiquiti Networks from $47.00 to $55.00 and gave the company a hold rating in a research note on Friday, February 9th. Vetr raised Ubiquiti Networks from a sell rating to a hold rating and set a $74.74 price target on the stock in a research note on Monday, February 5th. Zacks Investment Research lowered Ubiquiti Networks from a hold rating to a sell rating in a research note on Tuesday, January 23rd. Finally, BidaskClub raised Ubiquiti Networks from a buy rating to a strong-buy rating in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $65.75.
Shares of Ubiquiti Networks (NASDAQ UBNT) opened at $70.37 on Tuesday. The company has a quick ratio of 10.00, a current ratio of 10.94 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $5,480.00, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58. Ubiquiti Networks has a twelve month low of $45.71 and a twelve month high of $82.30.
Ubiquiti Networks declared that its Board of Directors has approved a stock buyback plan on Thursday, November 9th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Ubiquiti Networks by 4.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after acquiring an additional 80 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Ubiquiti Networks during the 4th quarter worth about $104,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Ubiquiti Networks during the 3rd quarter worth about $178,000. Brown Advisory Inc. acquired a new position in Ubiquiti Networks during the 3rd quarter worth about $211,000. Finally, Amalgamated Bank acquired a new position in Ubiquiti Networks during the 4th quarter worth about $216,000. 33.33% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This report was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.thecerbatgem.com/2018/02/14/ubiquiti-networks-ubnt-raised-to-buy-at-valuengine.html.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Ubiquiti Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks and related companies with MarketBeat.com's FREE daily email newsletter.